Provide an overview of how you ensure your voting policy is adhered to, giving details of your approach when exceptions to the policy are made (if applicable).
For companies proposing to increase board remuneration by more than 10 % in one year, we request a written justification in advance of the annual general meeting. If this justification would not be given to us, we would ask for a justification again at the annual general meeting. The final action would be to vote against the proposal without justifications. There were five requests for written justification in 2017, with satisfactory replies.
We participate in the AGMs in co-operation with our two external asset managers for Finnish equities. We discuss the agenda and possible voting situations with our managers in advance of the meeting. The Pension Fund also drafts separate guidelines for its annual meeting representatives.